Sumitomo Mitsui DS Asset Management Company Ltd Makes New Investment in Flex Ltd. $FLEX

Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Flex Ltd. (NASDAQ:FLEX) in the fourth quarter, HoldingsChannel reports. The fund bought 41,324 shares of the technology company’s stock, valued at approximately $2,497,000.

A number of other hedge funds have also bought and sold shares of FLEX. USA Financial Formulas purchased a new position in Flex in the 4th quarter worth about $28,000. CENTRAL TRUST Co grew its stake in shares of Flex by 238.3% during the 3rd quarter. CENTRAL TRUST Co now owns 504 shares of the technology company’s stock valued at $29,000 after purchasing an additional 355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Flex during the 3rd quarter valued at about $52,000. Root Financial Partners LLC bought a new stake in shares of Flex during the 3rd quarter valued at about $57,000. Finally, CI Investments Inc. grew its stake in shares of Flex by 60.4% during the 3rd quarter. CI Investments Inc. now owns 1,022 shares of the technology company’s stock valued at $59,000 after purchasing an additional 385 shares during the period. Hedge funds and other institutional investors own 94.30% of the company’s stock.

Insider Buying and Selling

In related news, Director Charles K. Stevens III sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $138.14, for a total transaction of $2,072,100.00. Following the completion of the transaction, the director directly owned 45,426 shares in the company, valued at approximately $6,275,147.64. The trade was a 24.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Kwang Hooi Tan sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $58.87, for a total value of $1,030,225.00. Following the transaction, the chief operating officer owned 233,636 shares of the company’s stock, valued at approximately $13,754,151.32. This trade represents a 6.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.57% of the company’s stock.

Flex Trading Up 6.9%

Shares of NASDAQ:FLEX opened at $142.17 on Friday. The stock has a 50 day moving average of $74.45 and a 200 day moving average of $67.03. The company has a market cap of $52.27 billion, a PE ratio of 61.02, a price-to-earnings-growth ratio of 3.06 and a beta of 1.46. The company has a current ratio of 1.36, a quick ratio of 0.88 and a debt-to-equity ratio of 0.73. Flex Ltd. has a 12-month low of $38.30 and a 12-month high of $142.59.

Flex (NASDAQ:FLEX) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. The company had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $6.96 billion. Flex had a return on equity of 22.12% and a net margin of 3.15%.The firm’s revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 EPS. Flex has set its FY 2027 guidance at 4.210-4.510 EPS and its Q1 2027 guidance at 0.860-0.920 EPS. As a group, equities research analysts expect that Flex Ltd. will post 3.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FLEX shares. KeyCorp boosted their price target on Flex from $75.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on Flex from $75.00 to $84.00 and gave the company an “overweight” rating in a research note on Thursday, April 16th. Stifel Nicolaus boosted their price target on Flex from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Barclays boosted their price target on Flex from $72.00 to $174.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Wall Street Zen downgraded Flex from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.80.

Flex Profile

Flex (NASDAQ: FLEX), formerly known as Flextronics, is a global provider of electronics manufacturing services (EMS) and original design manufacturing (ODM). The company offers end-to-end product lifecycle solutions including product design and engineering, prototyping, volume manufacturing, testing, and aftermarket services. Its offerings extend into supply chain management, component sourcing, logistics and distribution, and advanced manufacturing capabilities such as automation and digital manufacturing to support customers from concept through end-of-life.

Flex serves a broad range of industries, including automotive, healthcare, industrial, communications, and consumer electronics, working with original equipment manufacturers (OEMs) and technology companies to accelerate time to market and manage complex supply chains.